This is a quick article that will explain the theory behind bootstrapping and some of the obstacles that you may need to overcome on your journey to financial freedom through small business.
Bootstrapping is the art of creating a business literally from the ground up, starting with almost nothing and slowly building your empire as you can afford it. Bootstrappers do not believe in borrowing huge sums of money and they definitely do not take on venture capital. Bootstrappers are a proud bunch, very independent and they know that they will be putting in some serious work time before they will see the fruits of their labor.
A bootstrapper will sit on a milk crate as a trying chair, so that their dollars can be sent on marketing or product development. A bootstrapper will know when to pick battles. This year you may not have a copier, but next year you will have enough cash flow to cover it. The bootstrapper really knows how to buckle down during tough times and wait out the storm, with sometimes only a dream in their head, they know that it will happen some day, and that dream pushes them to keep going.
Small business owners that follow bootstrapping may often keep their ideas and projects to themselves, sometimes working a day job while sweating away into the wee hours of the night in order to get the business to a place where at least they can quit. Then the fun starts and the real stress begins. Once the bootstrapper can finally quit the day job and move on their own, the real work begins. There is nothing to fall back on except yourself and it can be the most terrifying and most rewarding experience or your life.